buster. 4,808 Posted October 25, 2014 Share Posted October 25, 2014 Can't see there being another "Rangers" director there as Ashley will activate the buyout clause. Got you and that is only a percentage of one years profits or turnover IIRC. Following the money on a quick fag packet, would I be right in saying that Ashely is going to end up one, if not the biggest profiteer out of our whole mess. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted October 25, 2014 Share Posted October 25, 2014 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted October 25, 2014 Share Posted October 25, 2014 (edited) Thank's FS ! So it becomes a wee bitty clearer (to me at least) why Ashely would want the IP rights on badge/trademark. If I follow, it would mean that royalty payments due to RIFC would be reduced or not necessary, dependent on what exactly Ashely could get his hands on. Thinking about it, the money withheld in the accounts. Could that possibly correspond in part with payments due to third parties who currently own part of our IP rights ? ps. just noted the last paragraph (I'm half asleep) which I don't know if standard for this type of JV. Could have significance it there is indeed 3rd party ownership as rumoured elsewhere. Edited October 25, 2014 by buster. 0 Quote Link to post Share on other sites More sharing options...
Guest HurlockGrunt Posted October 25, 2014 Share Posted October 25, 2014 So just to be clear - the joint venture (Rangers Retail) owns all the rights to our gear? RFCL is 100% owned by RIFC and is a 51% shareholder in the joint venture with SDI holding the other 49%? On execution of the trigger the 51% becomes owned by SDI for a fixed sum commensurate with 50% of last year's profits? Zero return to us? For how long? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted October 25, 2014 Share Posted October 25, 2014 So just to be clear - the joint venture (Rangers Retail) owns all the rights to our gear? RFCL is 100% owned by RIFC and is a 51% shareholder in the joint venture with SDI holding the other 49%? On execution of the trigger the 51% becomes owned by SDI for a fixed sum commensurate with 50% of last year's profits? Zero return to us? For how long? In perpetuity probably. 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted October 25, 2014 Share Posted October 25, 2014 So just to be clear - the joint venture (Rangers Retail) owns all the rights to our gear? RFCL is 100% owned by RIFC and is a 51% shareholder in the joint venture with SDI holding the other 49%? On execution of the trigger the 51% becomes owned by SDI for a fixed sum commensurate with 50% of last year's profits? Zero return to us? For how long? SD have 49% in 'A' class shares which count double in any votes regarding financial matters. RIFC have 51%, in 'B' class shares Effectively SD control the joint venture. Read the document in post 32 for details of the latter. 0 Quote Link to post Share on other sites More sharing options...
Guest HurlockGrunt Posted October 25, 2014 Share Posted October 25, 2014 Any idea what the deadlock provisions are? 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,050 Posted October 25, 2014 Share Posted October 25, 2014 Any idea what the deadlock provisions are? Whatever Ashley wants them to be. 0 Quote Link to post Share on other sites More sharing options...
Super Cooper 0 Posted October 25, 2014 Share Posted October 25, 2014 Bottom line for dummies like myself, what do the club make from selling an £80 kit? 0 Quote Link to post Share on other sites More sharing options...
buster. 4,808 Posted October 25, 2014 Share Posted October 25, 2014 Any idea what the deadlock provisions are? I'ii take a stab at an example (subject to correction / Forlan is the expert) An example may be that unanamous agreement between directors for paying dividends for a class of share cannot be reached and this creates a 'deadlock matter'. 0 Quote Link to post Share on other sites More sharing options...
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